Teijin to sell only Celanese acetate
GDA Staff -- Gifts & Dec, January 7, 2002
Celanese Acetate Textiles and Teijin Ltd. have signed a marketing and sales assistance agreement that will replace the companies' previously announced plans to form a joint venture producing and selling acetate in Asia.
Under the new plan, Teijin will sell acetate filament products produced by Celanese in North America in the Asian market under the Celanese name. As a related move, Teijin will discontinue manufacturing acetate by February.
Celanese, which produces acetate in plans in Virginia, Mexico and Belgium, will end production of acetate fiber in Belgium.
The dissolution of the joint venture was attributed to market conditions that were no longer viable, Celanese reported.
Celanese Acetate is the world's largest producer of cellulose acetate filament used in home furnishings, apparel and industrial uses.
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